FX.co ★ Moody's Narrows FY24 Outlook Range - Update

Moody's Corp., in its financial results for Q1, adjusted its earnings, revenue growth estimates, and full-year earnings for 2024.

The firm now anticipates earnings to fall between $9.55 and $10.15 per share for the fiscal year of 2024. The adjusted earnings are expected to range from $10.40 to $11.00 per share. Projected revenue growth is predicted to be high-single-digit to low-double-digit percent range.

Prior to these revisions, Moody's had projected earnings between $9.45 and $10.20 per share, with adjusted earnings ranging from $10.25 to $11.00 per share. The predicted revenue growth at that time was also in the high-single to low-double-digit percent range.

As per approximations from 20 analysts conducted by Thomson Reuters, the company is projected to have $10.71 earnings per share with a 10.6% drop in revenue, equalling $6.54 billion for the year. The figures from Thomson Reuters generally exclude any extraordinary items.

In related news, a regular quarterly dividend of $0.85 per share of MCO Common Stock was declared by the Board of Directors on Friday. Stockholders recorded at the close of business on the 17th of May 2024 will receive their payments on the 7th of June, 2024.